Bank Executive Steals $250,000 From Customers, Directly Accessing Bank Accounts To Fund His Lifestyle: US Department of Justice

The U.S. Department of Justice says a former bank manager has admitted to stealing over a quarter million dollars from customers to fund his own spending habits.

The DOJ says 53-year-old Eric Jason Schouest of Plaquemine, Louisiana, has pleaded guilty to embezzlement and bank fraud.

Prosecutors say Schouest admitted to using his power as a manager at a Regions Bank Plank Road branch to illegally access customer accounts, open and close accounts and transfer funds in and out of customer accounts in order to steal the money.

Once in possession of the bank’s customers’ money, Schouest made loan payments on his own house and car to the tune of $250,000.

Says the DOJ,

“Beginning in or about 2020, and continuing through in or about April 2021, Schouest exploited his position of trust at Regions Bank to embezzle funds from customer accounts and deposit the money into his personal bank accounts.

He also sent false and fraudulent emails and forged documents to other Regions Bank employees to conceal his scheme. Some of the traceable fraudulent funds were used to make loan payments on personal items such as a house and a car. Through his scheme, Schouest misappropriated more than $250,000 from Regions customer bank accounts.”

On top of a $1 million fine, the DOJ says that each of Schouest’s embezzlement and bank fraud convictions carry punishments of up to 30 years in prison and a period of supervised release.

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